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I understand that you are feeling the financial effects of the present economic situation. Different friends in the U.s. give me the same sort of news. this sounds like the depression of the thirties. It is different in France. Up to now, the French have not had to cut their expenses.there are 1.200.000 out of work, slacking production, incredible inflation. Nevertheless the shops of luxury food, the department stores, the jewelleries [sic], had never sold so much for Christmas as they did this year. And the travel agencies couldn't satisfy all those who wanted to go to winder sports. Don't believe that the customers and tourists are all capitalists, far from it, they are just ordinary people. I do not understand, but I am sure it can't last for long.

printed ART PICTURAL PARIS Made in France